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Queen’s speech focuses on deregulation, pensions and LTC funding

David Cameron 480

The Government has set out its legislative agenda for the next year with bills on deregulation, pensions and long-term care funding in today’s Queen’s speech.

At the state opening of parliament, the Queen said her Government will build a stronger economy and a fairer society that will prioritise increasing Britain’s competitiveness and reducing the deficit.

In January, the Government published a draft bill outlining plans for a flat rate state pension of £144 and the end of contracting-out due to come into force in April 2016. In March, it also revealed plans to cap long-term care funding costs at £72,000 from April 2016.

The Government will also push ahead with its Help to Buy mortgage scheme in January 2014 that will offer guarantees to lenders allowing borrowers to buy homes with a 5 per cent deposit.

The Queen said: “New arrangements will be put in place to help more people own their own home, with Government support provided for mortgages and deposits.

“My Government is committed to supporting people who have saved for retirement.

“Legislation will be introduced to reform the way long-term care is paid for, to ensure the elderly do not have to sell their homes to meet their care bills.

“My Government will bring forward legislation to create a simpler state pension system that encourages saving and provides more help to those who have spent years caring for children.”

The Government will publish a consumer rights bill to protect vulnerable customers such as tenants and energy consumers, while businesses are promised a de-regulation bill.

The Queen said: “A bill will be introduced to reduce the burden of excessive regulation on businesses. A further bill will make it easier for businesses to protect their intellectual property.

“A draft bill will be published establishing a simple set of consumer rights to promote competitive markets and growth.”

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Comments

There are 6 comments at the moment, we would love to hear your opinion too.

  1. “Legislation will be introduced to reform the way long-term care is paid for, to ensure the elderly do not have to sell their homes to meet their care bills”

    Once again increasing the burden on the working population.

    And I bet the burden of regulation for financial advisers wont be reduced.

  2. @ Anon 2.05
    So if you never bought a home and lets say you spent all your money, living the good life, your care fees would be paid for.
    If, on the other hand you saved hard, bought your own home & paid your way,only to have to sell everything you worked hard for to pay for what you have already paid for in tax & NI, how is that fair?

  3. Old D Cameron looks rather worried….the kind of worry expressed when Eric Pickles sits on a beloved cat….you know it will end unhappliy.

    On the subject of unhappiness, vacuous promises of deregulation for small businesses make me unhappy, knowing we will be ground down even further by the FCA as the years go by.

  4. Soren Lorenson 8th May 2013 at 3:31 pm

    Comments above.

    For the Government to suggest that their new care funding bill means that people will not have to sell their homes to fund their care can only mean one of the following:
    1. They are liars
    2. They don’t understand their own policy
    3. They are rubbish at sums.

    None of these is a particularly special place for a government to be.

    Most people will be no better off. Some will be worse off. Anon at 2.05pm – your wish has come true. Anonymous at 2.23pm you didn’t believe the hype did you?

  5. 2006 the better regulation task force was concieved see below. 2008 in was shut sown.
    we now spend over £150 BILLION ON QUANGO’s

    2006 The task force estimated the total cost of regulation to the UK economy at 10-12% of GDP, or £100 billion, taking into account the related policy work.[2]

    The framework for action in the UK included principles, regulatory impact assessments, simplification plans, and post-implementation reviews.[3]

    [edit] The UK principles of better regulationFive principles were identified by the Better Regulation Task Force in 1997 as the basic tests of whether any regulation is fit for purpose.[4]

    Proportionality
    Regulators should intervene only when necessary. Remedies should be appropriate to the risk posed, and costs identified and minimised.
    Accountability
    Regulators should be able to justify decisions and be subject to public scrutiny.
    Consistency
    Government rules and standards must be joined up and implemented fairly.
    Transparency
    Regulators should be open, and keep regulations simple and user-friendly.
    Targeting
    Regulation should be focused on the problem and minimise side effects.
    The Legislative and Regulatory Reform Act 2006[5] was passed to establish statutory principles of good regulation based on the work of the task force. The Act obliges regulatory bodies to have regard to the principles and a code of practice.
    FAILED

  6. Anonymous | 8 May 2013 2:23 pm

    Neither is fair but once again legislation is being brought in to appease the pension voters.

    As someone years off retirement I have seen constant reductions in what I will receive from the state and when I will see it to pay for these bribes.

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